As a single mother, money worries are part of everyday life. She is not only the sole earner in the household, she is the sole parent as well. Therefore, she must find a way to divide her time between her kids and her job. Often becoming accomplished in her chosen field is tough because her kids take priority. Being the only parent can inhibit her ambitions to resume her education, which would greatly enhance her earning power within her chosen field upon completion of the required program.
Current data reports that there are roughly 10 million single mothers in United States. This segment is moving up rapidly, and many of these parents are having a tough time rearing their children the right way.
What are the Options Available?
The optimal method in which single mothers can receive cash assistance is through various grant applications. The principal benefit of these grants is that one does not return the money. A myriad of grants are out there from the federal government and non profit agencies, earmarked to provide assistance to single mothers. Among these stipends are education grants, college awards, small business assistance, liquidation of mortgages, and numerous others.
Also available are lending programs which are specifically structured for the benefit of single mothers. These programs would include mortgages, student loans, small business start ups, and others. These loans are geared basically for single mothers, and they come with such attractive perks as low finance charges, longer payment terms, etc.
Where to Apply?
There are 26 federal agencies which specialize in products which are tailored to single mothers in the form of 900 different packages. There are 21 general types of grants for single mothers as indexed in the catalog of federal domestic assistance which can be accessed at grants.gov. This is a wonderful tool for an individual seeking to match a government grant to their specific need, such as school, jobs, skill workshops, or a business venture.
How to Apply?
Those looking to request grant money should fill out an application and forward it to the appropriate agency. Every grant has unique specifications to satisfy their requirements. Typically when a single parent is approved for grant funding, there are specific requirements which must be met before disbursement. Generally the grant recipient must either become involved in work which is of a benefit to the local area, or the grant winner must fulfill a specific job requirement in order to get the funds.
Reference: GovernmentGrantsTruth.org, site viewed on 11/4/2009
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